Brokerages Set Sage Therapeutics, Inc. (NASDAQ:SAGE) PT at $12.83

Sage Therapeutics, Inc. (NASDAQ:SAGE) has received a consensus recommendation of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $12.83.

A number of equities research analysts have weighed in on the company. Bank of America lowered their target price on Sage Therapeutics from $11.00 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, October 9th. StockNews.com cut shares of Sage Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Royal Bank of Canada upgraded shares of Sage Therapeutics from an “underperform” rating to a “sector perform” rating and set a $4.00 price target for the company in a report on Thursday, November 21st. Wedbush cut their price objective on shares of Sage Therapeutics from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $26.00 price target (down from $52.00) on shares of Sage Therapeutics in a report on Wednesday, October 30th.

Hedge Funds Weigh In On Sage Therapeutics

A number of institutional investors have recently modified their holdings of SAGE. Headlands Technologies LLC grew its holdings in Sage Therapeutics by 245.3% during the second quarter. Headlands Technologies LLC now owns 3,916 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 2,782 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Sage Therapeutics during the 1st quarter worth approximately $127,000. Virtu Financial LLC acquired a new position in shares of Sage Therapeutics in the 1st quarter valued at $187,000. China Universal Asset Management Co. Ltd. boosted its holdings in Sage Therapeutics by 66.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,742 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 4,672 shares in the last quarter. Finally, Quest Partners LLC grew its position in Sage Therapeutics by 14.5% during the second quarter. Quest Partners LLC now owns 11,763 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 1,486 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Sage Therapeutics Trading Down 3.6 %

Shares of SAGE opened at $5.55 on Friday. The firm has a market capitalization of $339.49 million, a P/E ratio of -1.03 and a beta of 0.92. Sage Therapeutics has a 12-month low of $4.62 and a 12-month high of $28.26. The firm has a fifty day moving average price of $6.62 and a 200-day moving average price of $8.90.

Sage Therapeutics (NASDAQ:SAGE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported ($1.53) EPS for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.01). The company had revenue of $11.87 million during the quarter, compared to the consensus estimate of $10.80 million. Sage Therapeutics had a negative return on equity of 50.29% and a negative net margin of 317.29%. Sage Therapeutics’s revenue was up 337.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.81) earnings per share. Analysts predict that Sage Therapeutics will post -6.53 earnings per share for the current year.

About Sage Therapeutics

Sage Therapeutics, Inc, a biopharmaceutical company, develops and commercializes brain health medicines. Its product candidates include ZULRESSO, a CIV injection for the treatment of postpartum depression (PPD) in adults; and ZURZUVAE, a neuroactive steroid, a positive allosteric modulator of GABAA receptors, targeting both synaptic and extrasynaptic GABAA receptors, for the treatment of postpartum depression.